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CNN
Mar 24, 2013 12:00pm PDT
the energy grid. but civil engineers say that investment is not enough. but 2020 the infrastructure will need $3.6 trillion. that would get us to a b grade, which is adequate for now, but the american society of civil engineers projected the u.s. will spend just $2 trillion, leaving a $1.6 trillion gap. i want to bring in michael grun wald and ken rogoff. also the author of the new new deal, the hidden story of change in the obama era. ken rogoff is a professor at harvard and a former chief economist at the international monetary fund. gentleman, welcome. michael, i want to start with you. when i tell my viewers, when i tell them about investing, i say pick a goal. we should think about investing in infrastructure in the same way. what do you mean? >> i think that's right. as you mentioned the obama stimulus did pour about $150 billion into our infrastructure and its build america bonds was a hidden stimulus inside the stimulus put in another $180 billion. that's a start. that's how you start to create the sort of strong infrastructure that makes people want to make our economy more
CNN
Mar 23, 2013 10:00am PDT
good drinking water so that you don't get sick. you want a good energy system so that the lights stay on. this is the basics that make our economy attractive to investors. >> ken, this is an old conversation. you've been having it for a long time. i have spoke on to a lot of politicians about it. generally speaking, the overwhelming major ta say, sure, you should have better infrastructure and government involvement in it. there's a small proportion of people generally conservatives who say government has no role in this. assuming your in the group that agrees government has a role in it, the conversation switches to how you pay for it. what's the best way for us to look at how to pay for improving our infrastructure. >> first, government has to have some role. even if the private sector is building a road or building a port, there's all kinds of regulations, environment approv approvals. it's sort of nonsense to say the government can't play a role or shouldn't play a role. but clearly the u.s. has a very conservative attitude towards allowing private sector funding in. we should hav
Search Results 0 to 1 of about 2